Andra AP fonden Sells 79,015 Shares of American Tower Corporation $AMT

Andra AP fonden cut its stake in shares of American Tower Corporation (NYSE:AMT) by 63.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,585 shares of the real estate investment trust’s stock after selling 79,015 shares during the quarter. Andra AP fonden’s holdings in American Tower were worth $7,694,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. J. Stern & Co. LLP boosted its position in American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after buying an additional 9,666,025 shares in the last quarter. Norges Bank bought a new position in shares of American Tower in the fourth quarter valued at approximately $1,171,180,000. Lazard Asset Management LLC raised its stake in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after acquiring an additional 4,250,242 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock worth $679,696,000 after acquiring an additional 2,364,898 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

American Tower Stock Up 1.7%

Shares of NYSE:AMT opened at $166.24 on Thursday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $77.45 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 0.68 and a beta of 0.91. The company has a 50 day moving average of $176.97 and a 200-day moving average of $178.50. American Tower Corporation has a one year low of $160.06 and a one year high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business posted $2.75 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.3%. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. Barclays decreased their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Truist Financial lifted their price target on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Citizens Jmp restated a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price for the company in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $215.57.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.